The Bank of Canada opened its doors in Ottawa on March 11, 1935, during the Great Depression. Its role was set out in the Bank of Canada Act of 1934: "to promote the economic and financial welfare of Canada." Shares of the privately-owned bank cost $50 but, in 1938, the Canadian government bought out shareholders and nationalized the bank. Today, the bank operates accounts only for the Canadian government, other central banks and commercial banks. To mark its 75th anniversary, the Currency Museum of the Bank of Canada has inaugurated a new exhibition which looks at the Bank and its history from the perspective of outside observers - journalists, cartoonists, headline writers, economists, politicians, government-appointed commissions, and the public at large. Visit the online exhibit By All Accounts: 75 Years of Central Banking.
